Resolution Number CRA 88-9-6-2RESOLUTION NO. CRA 88-9-6-2 2 49
APPROVING ISSUANCE OF PROMISSORY NOTE- DURENBERGER
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, MAKING FINDINGS AND
APPROVING AN AGREEMENT FOR THE ACQUISITION OF
CERTAIN REAL PROPERTY AND THE ISSUANCE OF AN AGENCY
PROMISSORY NOTE (31431 CAMINO CAPISTRANO)
WHEREAS, the Community Redevelopment Agency of the City of San Juan
Capistrano is engaged in activities necessary to carry out and implement the
Redevelopment Plan for the San Juan Capistrano Central Redevelopment Project Area
(the "Redevelopment Plan"); and,
WHEREAS, pursuant to Section 33640 of the California Health and Safety
Code, the Agency is authorized to issue bonds, subject to the approval of the City
Council, for any of its corporate purposes, including the acquisition of real property; and,
WHEREAS, in order to carry out and implement the Redevelopment Plan the
Agency proposes to enter into the Agreement For The Acquisition Of Real Property and
Escrow Instructions (the "Agreement") with Gephard R. Durenberger (the "Seller") for the
acquisition by the Agency of certain real property and improvements thereon (consisting
primarily of two buildings) located in the San Juan Capistrano Central Redevelopment
Project Area and generally described as 31431 Camino Capistrano in the City of San Juan
Capistrano (the "Site") and to issue a promissory note in the amount of $1,000,000 to
evidence its indebtedness (the "Note") all for the purpose of leasing the Site to Libros Y
Artes de San Juan Capistrano, a California non-profit public benefit corporation, for the
operation of a cultural center for the study of the decorative arts (the "Project"); and,
WHEREAS, the Agency finds and determines that the Project is consistent
with the Land Use Element of the City's General Plan; and,
WHEREAS, the Agency has duly considered all terms and conditions of the
proposed Agreement and believes that the acquisition of the Site for purposes of
redevelopment is in the best interests of the City of San Juan Capistrano and the health,
safety, and welfare of its residents, and in accord with the public purposes and provisions
of applicable State and local law and requirements; and,
WHEREAS, on this date the City Council conducted a public hearing in
accordance with the requirements of Federal and State law regarding the issuance of the
Note and the acquisition of the Site; and,
WHEREAS, all acts, conditions and other things required by the redevelopment
law and by all other laws of the State of California, to exist, to have happened and to
have been performed precedent to and in connection with the issuance of the Note exist,
have happened, and have been performed in regular and due time, form and manner as
required by law, and regular and due time, form and manner as required by law, and the
Agency is now duly authorized and empowered, pursuant to each and every requirement
of law, to issue such Note for the purpose, in the manner and upon the terms herein
provided.
NOW, THEREFORE, BE IT RESOLVED, by the San Juan Capistrano
Community Redevelopment Agency, City of San Juan Capistrano, California, as follows:
The above recitals, and each of them, are true and correct.
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250 2. The Agency has received and heard all oral and written objections
to the proposed Agreement and the Note, and to the proposed
acquisition of the Site and to other matters pertaining to this
transaction, and that all such oral and written objections are
hereby overruled.
3. The Agency hereby finds and determines that the consideration to
be paid to the Seller for the acquisition of the Site is fair market
value. The Agency hereby further finds and determines that all
consideration to be paid under the Agreement is in an amount
necessary to effectuate the purposes of the Redevelopment Plan
for the San Juan Capistrano Central Redevelopment Project.
4. The acquisition of the Site and the proposed Agreement, which
establish the terms and conditions therefor, are hereby approved.
5. The Agency finds and determines that it is in the public interest
that the Note be issued to finance the acquisition of the Site and
assist in the financing of the Project.
6. The City Council has approved the issuance of the Note by the San
Juan Capistrano Community Redevelopment Agency.
7. The Chairman of the Agency is hereby authorized to execute the
Agreement on behalf of the Agency.
PASSED, APPROVED, AND ADOPTED this 6th day
of _ eptember , 198&
KENNETH &FRIES S, CH IRM AN
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251
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
1, MARY ANN HANOVER, Secretary of the San Juan Capistrano Community
Redevelopment Agency, DO HEREBY CERTIFY that the foregoing is a true and correct
copy of Resolution No. CRA 88-9-6-2 adopted by the Board of Directors of the
San Juan Capistrano Community Redevelopment Agency, at a regular meeting thereof
held on the 6th day of September , 1988, by the following vote;
AYES: Directors Hausdorfer, Buchheim, Bland, and
Chairman Friess
NOES: None
ABSENT: Director Schwartze
(SEAL)
MARY ANYHANOVER, AGENCY SECRETARY
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252
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss. AFFIDAVIT OF POSTING
CITY OF SAN JUAN CAPISTRANO )
MARY ANN HANOVER, being first duly sworn, deposes and says:
That she is the duly appointed and qualified Secretary of the San Juan
Capistrano Community Redevelopment Agency;
That in compliance with State laws of the State of California and in further
compliance with City Resolution No. CRA 83-12-20-1 and on the 8th day
of September , 1988, she caused to be posted:
RESOLUTION NO. CRA 88-9-6-2 , being:
APPROVING ISSUANCE OF PROMISSORY NOTE - DURENBERGER
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, MAKING FINDINGS AND
APPROVING AN AGREEMENT FOR THE ACQUISITION OF
CERTAIN REAL PROPERTY AND THE ISSUANCE OF AN AGENCY
PROMISSORY NOTE (31431 CAMINO CAPISTRANO)
in three (3) public places in the City of San Juan Capistrano, to wit: City Hall; Old Fire
Station Recreation Complex; Orange County Public Library.
L_
MARY AN NOV R, Secretary
San Juan=no Community
CHECK L[ST Redevelopment Agency
RES. NO. CRA CPt— 5F(�
✓ Chairman has signed
cretary has signed
Agency Seal stamped
Al! blanks tyF
"Absent"
"Noes"
"Abstain"
Copies sent to
Legal Publication ordered to be published
(date)
No. Printed copies required
Remarks